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BIR LONDON: US scrap market still depends on Turkey after Section 232

The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.

This dependence persists despite the changes in the international markets created by the US’ imposition of its Section 232 tariffs on imports of steel products, metals analyst Lee Allen said at the conference on Saturday October 6.

Despite the later complications of separate political and economic issues, US exports to Turkey increased to 2.34 million tonnes in January-August 2018, up by 18% compared with 1.98 million tonnes in the first eight months of last year. As the chart below illustrates, the US-Turkey mutual dependence in scrap trade remains high this year...

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